Whipple v. U. P. R. Co.. Whiteacre v. Howe. White v. Bank... White v. City... White v. South Shore R. R.. White's Bk. v. Insurance Co.. Whitney v. Peay.. Whitney v. Slayton.. Whittenton Mills v. Upton. Wiggins F. Co. v. C. & A. R. Co.... Wiggins Ferry Co. v. O. & M. R. Co. Wilbur v. How... Wilde v. Milne.... Wilks v. Railway Co... Willink v. M. C. & B. Co. .15, 16, 105 .78, 79 12 406 241 .295, 428 .15, 16 11 409 116 336 49 354 163 .163, 164 .18, 24, 69, 71, 72, 149 .163, 387, 402 11 119 .95, 114 16 16 .421, 424, 425 88 828 342 141 CORPORATE COMBINATION, CONSOLIDATION AND SUCCESSION. CHAPTER I. COMBINATIONS, MADE BY RAILWAY CORPORATIONS WITH RAILWAY OR OTHER CORPORATIONS, UPHELD. The cases in this chapter present instances in which contracts, pooling arrangements, or courses of dealing, of railway with railway or other corporations, involving leases, or other uses of property, traffic arrangements and guarantees were sustained, and such defenses as that the contract was void because ultra vires, or against public policy, on account of being in illegal restraint of trade, or tending to create a monopoly, were not sustained; or instances where, although the contract itself between the parties was void, one party had derived such a benefit from the other party as to be under obligation to make compensation as upon an implied contract; or, although the contract was contrary to public policy, one party had derived a benefit and their relations were such that the maxim, in pari delicto potior est conditio defendentis, did not apply. At the basis of these questions are the principle that a corporation has only such powers as are granted to it by its charter, and an attempt to exercise any power not so granted is ultra vires, irrespective of any question of immorality or public policy (although circumstances may arise whereby a corporation is estopped from asserting such a want of power), and the maxim which pervades all departments of law, and which affects individual contracts equally with and to the same extent that it does contracts with corporations, salus populi suprema lex. The grounds upon which a contract will be held to violate |